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Crypto Job Popularity on the Decline, Blockchain Still Wanted

Crypto Job Popularity on the Decline, Blockchain Still Wanted 101
Source: iStock/StefaNikolic

Interest in cryptocurrency-related jobs has declined in parallel with a slump in crypto prices, according to employment search engine Indeed.com. Blockchain, however, remains as attractive to job seekers as before.

According to a new report released Wednesday, crypto-related searches on the site climbed from June through mid-December of 2017, peaking at 39 searches per million for the term "Bitcoin" - along with the price - and 46 searches per million for the term "cryptocurrency." Since then, these searches have fallen by 76% and 41% respectively. Indeed attributes this trend to the simultaneous slide in cryptocurrency prices since the peak.

The company commented on this, “[In] recent months the prices of Bitcoin and other cryptocurrencies have been volatile and (in some cases) declining. Job seeker interest on Indeed for Bitcoin and cryptocurrency jobs has fallen, too.”

Interest in blockchain has endured, however, peaking at 47 searches per million in late February, and being only slightly lower at the time of the report. Indeed said, “The sustained interest in blockchain jobs is perhaps a sign that job seekers believe non-financial companies will pursue blockchain applications, even if financial companies see cryptocurrencies as a fad,” concluding that, “Rightly or wrongly, blockchain is seen by job seekers as a viable innovation whether or not Bitcoin and other cryptocurrencies are.”

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This trend mirrors a widely held view that crypto assets are in a bubble and in a purely speculative mania, but the underlying technology is a promising innovation that could transform industries. This was also the main takeaway from the Davos meeting this year: “Blockchain, not Bitcoin” voted the majority of world leaders.

USD 945 million was spent on blockchain solutions in 2017 and the spending is expected to grow on a robust rate, reaching USD 9.2 billion in total by 2021, according to the Worldwide Semiannual Blockchain Spending Guide, as previously reported by Cryptonews.com.

The industries that will see the fastest growth in blockchain spending will be professional services, discrete manufacturing, and the resource industries.

In either case, an obvious place to look for a job in crypto is a general jobs board like Indeed or totaljobs. If you want to narrow your search, you can also look at specialist crypto job boards and recruitment firms such as CryptoTalent, Cryptorecruit and Andromeda, also as reported.

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